Best large cap equity fund award goes to ICICI Prudential Bluechip: Check full list here

Morningstar, a leading provider of independent investment insights, has announced winners for  Investing Excellence in India. The awards recognise funds and asset managers that have served investors well over the long term and which Morningstar’s manager research team believes will be able to deliver strong risk-adjusted returns over time.

The 2024 Morningstar Awards for Investing Excellence award winners in India are:

Here are the winners, as well as the nominees.

Best Large Cap Equity Fund: ICICI Prudential Bluechip

Edelweiss Large Cap

ICICI Prudential Bluechip

Nippon India Large Cap

Best Flexi Cap Equity Fund: Parag Parikh Flexi Cap 

Edelweiss Flexi Cap

HDFC Flexi Cap

Parag Parikh Flexi Cap

Best Small/Mid-Cap Equity Fund: HDFC Mid-Cap Opportunities 

DSP Small Cap

HDFC Mid-Cap Opportunities

Nippon India Small Cap

Best Short Duration Fund: ICICI Prudential Short Term 

Axis Short Term

ICICI Prudential Short Term

Nippon India Short Term

Best Corporate Bond Fund: Nippon India Corporate Bond 

Axis Corporate Debt

Kotak Corporate Bond

Nippon India Corporate Bond

Best Medium to Long Duration Fund: Kotak Bond 

Axis Dynamic Bond

Kotak Bond

Kotak Dynamic Bond

Best Asset Manager: SBI Funds Management Ltd.

Kotak Mahindra AMC Ltd.

PGIM India Mutual Fund

SBI Funds Management Ltd.

These awards are determined by a combination of risk-adjusted medium- to long-term performance track records and Morningstar’s forward-looking rating for funds.  

"Based on Morningstar’s forward-looking ratings for funds, the Morningstar manager research team carefully select the winners across equity and fixed income categories, as the leading funds within India for investors. We’d like to congratulate all winners and finalists of this year’s awards.” said Kaustubh Belapurkar, Director Manager Research, Morningstar Investment Research India Private Limited (formerly known as Morningstar Investment Adviser India Private Limited).

This annual exercise is designed to help investors identify the retail funds and fund houses that added the most value for investors within the context of their relevant peer group in 2023 and over longer time periods. . The methodology emphasizes the 1-year period, but funds must also have delivered strong 3-year and 5-year returns after adjusting for risk within the awards peer groups to obtain an award. Further, any fund that has not outperformed its Morningstar category median in at least three of the past five calendar years is removed from consideration, unless Morningstar's qualitative analysts believe a fund has exceptional merit that the criteria fail to capture.